Apple's new credit card isn't just another virtual card in its virtual wallet.
Not everyone will flock to Apple for their financial needs — Apple's options for nondigital payments are somewhat limited — but the Apple Card brings together several concepts that consumers have only been able to get piecemeal from other card accounts.
This story was originally published March 26, 2019, and has been updated with new information following Apple Card's launch.
1 Other banks can use Apple Card's tech The Apple Card takes a more aggressively digital approach to credit card relationships than most other products on the market — but the technology behind it isn’t exclusive to Apple.
Following about 18 months of secretive development with Apple and Goldman Sachs, Mastercard was able to bring the same offering to other issuers.
Its platform carries over many of the features that Apple Card users will get, according to Chris Reid, Mastercard’s executive vice president of cyber intelligence and data services for North America.
Reid attributed that to the secrecy surrounding the platform’s development under Apple’s strict nondisclosure agreements.